Warner Music Group remains a public company for the moment, while its acquisition by Access Industries goes through. Thus, the company has published its fiscal Q2 financials, revealing that revenues were up 2% year-on-year to $682 million, but net losses grew from $25 million to $38 million in the same period. WMG’s digital revenues of $220 million were up 8.9% year-on-year, and in the US it is now approaching 50% of the company’s recorded music revenues (globally it’s 32%). “Our focus on disciplined A&R investments, successful revenue diversification and innovative digital strategies has helped us to grow both our Recorded Music and Music Publishing revenue,” says chairman and CEO Edgar Bronfman Jr in a statement. “We are excited to see our digital revenue approach the 50% milestone for U.S. Recorded Music and to see 60% of our active global artist roster signed to expanded-rights deals.” Source: WMG
